VA Loans

[Duck]

Anyone here able to recommend someone other than NBKC? My current loan is thru them and i'm trying to refi back to 30 years to drop the monthly payment. Problem is i'm already at 3.25% and they can't do the VA IRRRL since the rate wouldn't change. This leaves me either sticking with my current mortgage or going to a different lender. I see Trident in this thread but didn't see any longtime members commenting on using them and no BBB rating or reviews. 

Might as well call them and at least see what they can do. From my research, no one was able to beat NBKC, until Marty and Trident came around. You can also try Navy Federal, my dad used them and they were able to be competitive with NBKC rates.

[Marty - Trident Home Loans]

Might as well call them and at least see what they can do. From my research, no one was able to beat NBKC, until Marty and Trident came around. You can also try Navy Federal, my dad used them and they were able to be competitive with NBKC rates.

Thanks Duck! I sent a PM and will do my best to help him out. As shown on our website, Trident can do VAs/IRRRLs below 3.25% but you'd have to either pay closing costs or roll them in. Rates are starting to trend upwards. Just give me a call or email.

BBB is not a government organization and lender/broker feedback is legally done through the NMLS. You can see if there are any complaints on a lender through the website below.

https://www.nmlsconsumeraccess.org/

[KWings06j]

19 hours ago, Duck said:

Might as well call them and at least see what they can do. From my research, no one was able to beat NBKC, until Marty and Trident came around. You can also try Navy Federal, my dad used them and they were able to be competitive with NBKC rates.

Thanks. I'm just always weary of giving out financial information without some sort of vetting.

18 hours ago, Marty - Trident Home Loans said:

Thanks Duck! I sent a PM and will do my best to help him out. As shown on our website, Trident can do VAs/IRRRLs below 3.25% but you'd have to either pay closing costs or roll them in. Rates are starting to trend upwards. Just give me a call or email.

BBB is not a government organization and lender/broker feedback is legally done through the NMLS. You can see if there are any complaints on a lender through the website below.

https://www.nmlsconsumeraccess.org/

PM sent. Thanks for the link. 

[danielstevens]

15 minutes ago, KWings06j said:

Thanks. I'm just always weary of giving out financial information without some sort of vetting.

PM sent. Thanks for the link. 

This may sound a bit simplified and otherwise obvious,  but you can also Google a lender's name you are considering with the keyword like "reviews" or "complaints" and you'll find a lot of information out there on how people view their experiences with specific lenders.  BBB, Zillow.com, Lending Tree, Yelp, Google+ all have user submitted review databases on mortgage lenders.  Those are used a lot more by people than the official NMLS site.  

For instance, Quicken Loans which is one of the biggest lenders in the country doesn't have any user experience reviews on the NMLS site, but there are countless user submitted reviews about them just a simple Google search away.

[BADFNZ]

Would like to give a big shoutout to Marty and his team at Trident.  I was very hesitant to pull the trigger on the IRRRL, mostly due to lack of knowledge and lack of trust in the "no-cost" refi.  Even though Marty was at a going-away lunch for an employee, he gave me a call and talked me through everything and calmed my fears.  He either really cares about customer satisfaction, or really hates his employees, but either way I came away impressed

I was able to lower my payment by $450 with $0 coming out of my pocket for the refi.  I highly recommend you give Marty a call, shoot him a PM, etc.  Even if you're on the fence, he'll take time out of his busy day as a mortgage company owner and airline pilot to answer your questions.  Do it!

[ARAMP1]

Im looking at buying a house in the $7-800K range. I know the max for the VA loan is just over $400K.  Has anyone done a conbined VA loan with an eledgible spouse?   How much of a pain in the ass was it?  We probably have enough to put down for a conventional loan, but i wanted to see if anyone had any thoughts.

[ThreeHoler]

You can exceed $417K on a VA, but you must be able to put down some extra cash. There is a formula for how much. 25% of the amount over $417K.

For $800K with full eligibility, you would need to put down $95,750 (~12%) to obtain a VA mortgage.

If you are in a high cost area, the $417K goes up to $625K, so you would only need to put down $43,750 (~5.5%).

You will not want to do a conventional loan for that amount, most likely, since it is considered a jumbo loan. It will have a higher rate and likely require PMI even if you have 20% to put down.

Side note: putting down at least 10% on a VA gets you the lowest possible funding fee. If you are a disabled vet, 0% rating or higher, then the funding fee is waived.

[Marty - Trident Home Loans]

10 hours ago, ARAMP1 said:

Im looking at buying a house in the $7-800K range. I know the max for the VA loan is just over $400K.  Has anyone done a conbined VA loan with an eledgible spouse?   How much of a pain in the ass was it?  We probably have enough to put down for a conventional loan, but i wanted to see if anyone had any thoughts.

ARAMP1, here are some formula examples.  You fit example 4 and 7.  Like ThreeHoler said you can go above 417K in many counties.  We're doing one for a Virginia guy right now that has a 625K max.  Run the formula using your county limit which you can find at https://www.benefits.va.gov/HOMELOANS/purchaseco_loan_limits.asp  That'll give you a good idea of what you'll need to put down.  A VA jumbo is going to be a much better rate than a conventional jumbo plus we can go up to 50% debt to income to qualify on a VA jumbo.  Your credit score has to be above a 680.  Shoot me a PM or email me at marty@mythl.com if you want to chat.

Marty

VA guaranty_calculation_examples.pdf

[Learjetter]

Yet another shoutout to Marty and the gang at Trident.  Jennifer took my data, jumped a number of hurdles, slayed a few dragons, and ultimately got us closed yesterday on a no-cost, cash out, 3.25% VA Refi on a rural property.   I hadn't done one of these in a while, so Jennifer took the time to educate and re-educate me as needed, and kept us on pace,  I reached out to Marty on 20 June.  Closed 21 July.  This wasn't their first rodeo, and it showed.    Marty and the gang have a good plan going here:  provide excellent service and build trust.  Over time, that means more good business, in the good business of helping people.    If you're considering looking into a mortgage product, I recommend giving Trident a call.  I know I will next time I'm buying.

Good people, doing good things, for good people.  

LJ

[HelloHello]

Just got off the phone with Dan Steinbrink of NBKC and he had a very tough time explaining the mysterious $890 fee for an "appraisal waiver".  I never requested a waiver and this fee was not on either of the HUD-1 statements I received. He also refused to put the lender credit he promised on any of the mortgage paperwork. Very shady. This is so disappointing because I had a good experience with NBKC in the past. I guess all good things come to an end. 

[11F...]

To offer a counter to what HelloHello just posted above, I just closed with NBKC and had an insanely positive experience.  30 year VA, 3.25%, 6K lender credit, 0 random fees and lender credit was spelled out every step of the way.  My originator was Amy Stuhr Paterson.   Contact info for her is:

913-253-0190

800-375-8096 x 0190

email address:  apaterson@nbkc.com

I literally could not recommend anyone more than Amy.  Never met the woman, don't get any kickback obviously, but I found her from this very forum and I've gotten great gouge on tons of stuff on here from other bros so wanted to offer the same.  I'm pretty sure she mentioned that her husband was a prior Active Duty pilot, because she knew about this forum.   

Feel free to PM me if you want more details, but in a nutshell, I'm extremely anal and shopped around quite a bit.   No one could touch NBKC with rate + credit.  My eventual realtor was convinced it was BS and of course wanted me to use her "preferred lender" who couldn't come close to matching.  This was my second VA loan, so I only had partial entitlement left.  No issues at all with NBKC (nor should it be), but several banks refused to help me when I told them I only had partial eligibility left (including USAA, which I only called for a laugh anyway).  Put an offer on one home, but I needed a 60 day close due to overseas PCS from a non-US base (so no good notary options).   I didn't use a realtor (tried to get a for sale by owner direct to me on this first home), and seller used world's worst realtor.    Amy actually helped out quite a bit in protecting us from a few minor issues from seller's agent.  Way above and beyond what an originator would be required to do.  I ended up backing out of the house less than a week to close.  Offered and contract accepted on a second home.   Walked away during inspection.  Finally closed on a third home.  I was super anal and petty about every line (as I should be, right?!) through every step of the process, and while Amy was surely irritated with me at times, she never let it show and was professional throughout the entire process.   She answered every question to my satisfaction and the end result was, with a $1500 realtor credit plus NBKC's $6K, I ended up with a small overall credit after closing costs. Basically my down payment was about $1000 less than what it should have been due to the lender + realtor credits (and $0 closing costs).    Anyway, non VA loan rates weren't nearly as competitive, but I would use Amy again in a heartbeat and highly recommend you at least calling her to compare terms if you're in the market.   

 

 

Edited July 27, 2016 by 11F...

[Jaded]

So if you get an VA loan, is there any reason to not immediately get an IRRRL?

[Marty - Trident Home Loans]

So if you get an VA loan, is there any reason to not immediately get an IRRRL?

We can do a VA IRRRL after a borrower has had the loan for 3 months. As a company policy, we wait to lock the loan until 4 months after the it closes and then close it after 6 months.

This prevents any issues with the current lender having to pay back loan revenues and is ethical in my opinion. It also complies with VA Guidelines in all cases.

Since we do the VA iRRRL under no cost terms, the borrower does pay the funding fee but has our credit to reimburse it at closing. Thus, there is no fee and costs for our method of doing it.

The one thing I can say is to examine a fee sheet and know what your costs are and terms. Education with this loan program is essential and we legally put it in a rate quote from a licensed loan originator so you can see the cost along with the credit.

No cost can mean no lender fee, no out of pocket cost but as a Naval Academy Math Major, I define no cost as all costs paid, but not escrows for taxes and insurance as well as interest due. Interest is paid regardless of the refi and so are escrows.

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[HelloHello]

So, I previously posted on my unexpected disappointment with NBKC. Now, I must admit that was perhaps a bit premature. The day after my less than pleasant interaction with Dan, I received a call from Kirby Hinton, Dan's manager, to smooth things over. Long story short, I think Dan was just having a bad day, something I can relate to considering I had a "bad decade" until my VSP package was approved in 2014 (this is where I would insert a gif or emoji if I had 3 hours to figure it how to do such a thing).  Since then, Dan has been great and even emailed me while skiing in Aspen. He's awesome, I'm eating crow.

 

[Timmay!]

Hi all, 

I wanted to take the opportunity to express my great satisfaction with Dave Devine from NBKC in helping me with my VA loan.  As someone who was retiring from the Navy after being stationed overseas and starting a new job, I needed to close on a house quickly and efficiently.  An Air Force pilot who was in my training class mentioned NBKC and I was put in touch with Dave Devine.  He was very thorough and worked diligently with me to ensure we made our closing date.  I never did a VA loan before, but in my transitory phase it seemed to make the most sense and Dave was able to obtain a very competitive rate with a sizable credit as well (no points or origination fees either).  

If you are looking for someone who will get you a great VA loan and get it done on time, I highly recommend NBKC and ask for Dave Devine.  He really helped me and my family.

Tim Fahey

[Bucket]

I had an extremely positive experience with Dave Nichols of NBKC. First time homebuyer, 30yr VA fixed @ 3.25% and $4,300 lender credit. He also had a pretty sweet deal if you were/wanted to be a Costco member.. The credit and fees showed up on the line by line, and Dave was able to explain everything I had questions about. I couldn't be happier with his willingness to answer my questions promptly; I thought dealing with a CONUS bank would be a lot tougher than it was, but there was never a time ) where I was waiting on an answer from him for more than a half day. Can't say enough about how patient he was after I put in an offer on one home, got the inspection done, nope-d out of there real quick and found another home. 

I closed just at 6 weeks from the time I put in the offer on the second home. Overall, an extremely pleasant experience that both I and my realtor were very pleased with. 

Dave Nichols

Dave.Nichols@nbkc.com
913-945-2576 

[RTB]

On 7/28/2016 at 2:45 PM, Marty - Trident Home Loans said:

We can do a VA IRRRL ....

Not sure the Contact Us link is working on your website.  Sent 2 different emails requesting info on a VA IRRRL several weeks ago but never heard from you guys. 

[Marty - Trident Home Loans]

Not sure the Contact Us link is working on your website.  Sent 2 different emails requesting info on a VA IRRRL several weeks ago but never heard from you guys. 

Hmmm, sorry about that. Not sure what is going on with the link. E-mail me directly at marty@mythl.com and I'll make sure you get all the info you need.

Thanks!
Marty


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[di1630]

Hey guys, I'm giving a shoutout for Marty at Trident Home Loans.

About 2 months back after reading this thread I was simply curious as I already had a very low interest rate. Marty helped me knock my interest rate even lower, the loan cost me NOTHING, all I had to do was sign some documents which they made very easy around my TDY schedule.

Bottom line, I did very little to save some good money so if you are even slightly curious on that you might get a better rate, take 6-9 minutes and fill out an app. Trident was terrific to work with.




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[Marty - Trident Home Loans]

Thanks for the nice words! Glad we could help! Rates are back down to previous lows and should stay down through the next potential Fed rate hike in Dec. It's a good time to lock in a no cost refi if it's on your radar.

Marty



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[schokie]

Marty,

you licensed in NC? Your website doesn't mention that state. 

[stract]

I've owned my current home for 21 months now - rate is 3.375%/30 yr.  Are there any VA IRRRL loans out there that will beat this rate enough to make sense doing?  I'm not interested in a higher monthly payment, so a 15 yr IRRRL would have to really beat that rate for me to consider.

[Marty - Trident Home Loans]

Marty,
you licensed in NC? Your website doesn't mention that state. 

Sorry we're not licensed in NC but I can find you another lender who is if you'd like. Email or PM me what you're looking to do and I'll match you up.

I've owned my current home for 21 months now - rate is 3.375%/30 yr.  Are there any VA IRRRL loans out there that will beat this rate enough to make sense doing?  I'm not interested in a higher monthly payment, so a 15 yr IRRRL would have to really beat that rate for me to consider.

3.375 is a good rate. Depending on the state, loan amount, any VA disability and credit score you could potentially get it down a little lower using a no cost IRRRL. If you want a free quote just shoot me an email with those details at marty@mythl.com. You can also PM me and I'll give you my cell #. A 5min call can save a lot of emailing back and forth.

Thanks!
Marty



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[stract]

On 9/25/2016 at 6:00 PM, Marty - Trident Home Loans said:

Sorry we're not licensed in NC but I can find you another lender who is if you'd like. Email or PM me what you're looking to do and I'll match you up.




3.375 is a good rate. Depending on the state, loan amount, any VA disability and credit score you could potentially get it down a little lower using a no cost IRRRL. If you want a free quote just shoot me an email with those details at marty@mythl.com. You can also PM me and I'll give you my cell #. A 5min call can save a lot of emailing back and forth.

Thanks!
Marty



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I'm in NM.  Let me know if you're licensed here, and if so I'll reach out.

[Marty - Trident Home Loans]

I'm in NM.  Let me know if you're licensed here, and if so I'll reach out.

Wish we could do it but we're not licensed in NM.

We can do: AL, CA, CO, DE, FL, GA, IN, LA, MD, MI, MN, MS, OK, OR, TN, TX, VA, WA

Marty


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